http://www.english.hadhramaut.info Yemen, Saudi Arabia intend to set up economic city [The Source: SANA'A/hadhramaut.info/sabanews.net - 19/05/2011] Yemen and Saudi Arabia intend to establish a joint economic city between Saudi Arabia and Yemen in al-Wadia'a zone located in the common border area. This has came in a statement by Chairman of the Yemeni-Saudi Business Council and board member of the Chamber of Commerce and Industry in Jeddah Abdullah bin Mahfouz at the investment forum, which was held recently in Najran area under the slogan "the land of unlimited opportunities ".The total areas of this economic city is estimated at 40 million square meters , so that each country to grant an area of 20 million square meters from its lands for this project, bin Mahfouz explained.He noted that the economic area would be divided into a number of inland areas, including areas of light industries, logistic supporting industries ,warehouses and packaging, works development, administrative services and technical area.It will be allowed inside the city to produce, import, manufacture and store all kinds of goods without restriction and will be exempt from all customs duties and tax for both countries in order to stimulate and attract investment ,exploit the natural resources and activate the trade exchange between the two countries, bin Mahfouz added.